The Government has announced additional measures to cushion the impacts of the high cost of living experienced by ordinary citizens. President Irfaan Ali on Monday during a live broadcast announced a one off cash grant valued $25,000 for every single household in the hinterland and riverine communities.
"This will place an additional $800M at the disposal of these households who have been particularly affected by recent rises in cost of living. So our first initiative is targeted at house holds in riverine and hinterland communities, a transfer of $25,000 cash grant to each of these household." President Ali noted the pressure felt by farmers in the increased price for fertilisers globally. In this regard, the Government will be providing fertlisers free of cost to farmers across the country.
"My Government will be purchasing $1B worth of fertliser for free distribution to farmers for use in their planting and replanting activities. Considering that fertlisers accounts for between 15 to 30% of the total operating costs for farmers, this initiative will significantly reduce input costs and help insure skilled up production and adequate supply of output which is critical to maintaining price stability." These two measures will be financed by the $5B that was allocated in the National 2022 Budget costing $1.8B. HOME OWNERSHIP
In keeping with its mandate to distribute 50,000 house lots within five years, the Government will be launching a Home Construction Assistance facility for persons who are unable to construct their homes. Persons who are interested will be required to register at a unit that will be established shortly. They will have to select the preference from three standards pre-designed model homes at a cost of $7M, $9M and $12M ,which depends on the applicant's income level. These persons will be assisted through the process of applying for bank financing to the meet the cost of constructing their homes and resources will be released to expedite the construction process.
"Government will also undertake the construction of home on behalf of the applicant and deliver to the applicant a complete home in accordance with the options selected. We expect that this measure will help to drastically accelerate the capacity of Guyanese families, to own and occupy their own home and house lots that they have already owned or that they have been allocated but on which they are currently having difficulties."
VAT has also been removed on sheet rock and concrete blocks. This measure is expected to bring relief for persons who are now constructing their homes or involved in the construction industry.
According to President Ali the Government is actively consulting with stakeholders to find the best possible measure to bring relief to pensioners, children and the vulnerable.
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